T Clarke shares leap 17%

SHARES in T Clarke surged to record highs today after the electrical contractor said full-year figures would 'significantly' exceed City expectations.

Clarke, which wired the London Eye and Tate Modern gallery, said the 'very positive trend' seen six months into its financial year had continued during the second half.

'Consequently, it is expected that results for the year ended December 31 2001 will significantly exceed current market expectations,' it said.

The shares in the group jumped 56 1/2 p to 389p - a 17% improvement and an all-time high.

In August, Clarke rewarded shareholders with a bonus payout after a 63% surge in interim profits to £3.4m and said at the time it was encouraged by the number of long-term contracts it was winning.

Shareholders received a special dividend of 10p per share on top of an interim payout of 5p per share.

Clarke, which reported final pre-tax profits for 2000 of £4.6m on turnover of £98.4m, will publish its 2001 full-year figures on March 8. The group, founded in 1889, is based in London with offices in Leeds, Bristol, Peterborough, Newcastle and Bournemouth.